IWB leaves the energy crisis behind in terms of profit
The Basel energy provider IWB increased its revenue by 11 percent to 1,265 million Swiss francs in 2023, setting a new record. Higher revenues from electricity supply in the free market, the growing solar business, and increased gas tariffs contributed significantly to this achievement. The profit reached 128 million Swiss francs, returning to pre-energy crisis levels. IWB also invested 201 million Swiss francs, mainly in the expansion of the district heating network in Basel.
IWB increased its turnover by 11 per cent to CHF 1,265 million in 2023, a new record. According to a statement from the Basel-based energy supplier, this was due in particular to higher revenue from electricity supply on the free market, the growing solar business and the increase in gas tariffs at the end of 2022. At CHF 128 million, profit returned to the level before the energy crisis. it had totalled CHF 127 million in 2021 and had shrunk to CHF 58 million in 2022.
However, at CHF 721 million, the procurement costs for energy were only slightly below those of the previous year, when they totalled CHF 738 million. By comparison, procurement costs in 2021 were still at CHF 363 million. The purchase prices for electricity in 2023 were only slightly below the previous year’s level, while those for gas were even higher.
At 201 million, IWB invested more than ever before in 2023. This was primarily due to the expansion of district heating. IWB plans to expand the district heating network in Basel by 60 kilometres between 2022 and 2037. in 2022 and 2023, 7 kilometres were installed and 630 new connections were sold.